CME XRP Futures reach $ 9 billion – will ETF approval 23 %? star-news.press/wp

Main meals

CME XRP Futures Market interest has reached a record. However, with adult players slowing the distribution, will xrp wear?

Institutional interest in XRP It has risen to the highest level ever before ETF approval in the potential United States.

According to the Chicago Commercial exchange (CME), the XRP Futures Market receipt A standard open number of about 12 million XRP, equivalent A cumulative value of 9.02 billion dollars.

On the stock exchange, it was the standard demand –

“A clear sign of the increasing condemnation of the market.”

Source: x

XRP total futures

Compared to the rest of the stock exchanges, CME ranked fourth after Bybit, Binance and Bitget. However, the total demand for XRP futures was on A. The declining direction In addition to the price during the past few days.

Source: Coinglass

About 10 billion dollars in open interest in late July, the total futures decades fell to $ 7.3 billion on August 22. Since then, Cool-FF has withdrew the Altcoin value by 23 % from $ 3.6 to $ 2.8.

$ 2.8 was defended in the previous decline. Whether it will remain again to be seen.

However, as a standard for approval of Spot XRP ETF, CME futures growth was Displayed By market monitors as a vote for confidence and a possible positive result of products.

XRP for the link

But there is a cold war between XRP and ChainLink (Link) investors on Twitter Crypto. In fact, ChainLink Key Square Claim This was fast working with the network instead of XRP.

Interestingly, the link recorded 75 % gains over a period of three weeks, outperform the XRP in Q3. This asks the question – can it outperform the XRP in the short term?

Source: Link/XRP, Tradingview

However, only outstanding performance began recently, as XRP has dominated most of the past two years.

Whale activity turns

Meanwhile, a group of main whale owned between 10 million to a billion unloading symbols, seen in July and early August.

A strong offer from these big players can reduce the decline of XRP and lead to a reflection.

Source: Santim

In general, the CME FUTERES boom was positive for XRP, especially to agree to the immediate ETF. In addition, the whales have reduced their sale, which raised hope for a potential recovery if they started to provide bids firmly again.